For Sale
$7,000,000

1743 Broadway RdTempe, AZ 85282

High-yield Tempe retail center, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional Tempe, Arizona retail investment opportunity presents a stabilized, multi-tenant shopping center totaling 26,900 square feet on a 102,896 square foot lot. The property, located at 1743 E Broadway Rd, Tempe, AZ 85282, consists of two single-story buildings built in 1981 and features eight units with a diverse tenant mix including national brands like Dollar Tree and local favorites such as Ted's Hot Dogs and Cayden's Place. Currently operating at 100% occupancy, the center generates a substantial Net Operating Income (NOI) of $488,660, resulting in a compelling 6.98% capitalization rate. The asking price is $7,000,000, translating to $260.22 per square foot. The property is zoned PCC-1 and benefits from a fee simple ownership structure, making it ideal for a 1031 exchange. Key features include high visibility from Broadway and McClintock Roads, ample parking, and a high volume of vehicular traffic (approximately 63,000 vehicles per day). The property's relatively newer leases and below-market rent for upcoming end-cap space offer significant upside potential. This is a rare opportunity to acquire a well-positioned, high-performing retail asset in a thriving Tempe market. APN: 133-31-554 & 133-31-555.

Highlights

  • High visibility from Broadway and McClintock.
  • Recent lease renewals.
  • Below-market rent available for end-cap space.
  • Abundant parking.
  • High-traffic intersection with approximately 63,000 vehicles per day (VPD).

Property Details for 1743 Broadway Rd

Property type
Lifestyle centers, Power centers
Square Feet
26,900 SF
Class
B
Year Built
1981
Buildings
2
Stories
1
Units
8

Location Insight

City
Tempe
County
Maricopa
State
Arizona
Latitude
33.406841
Longitude
-111.909744
1743 Broadway Rd, Tempe, Arizona

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1743 Broadway Rd
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